Howard Robin Sells 10,000 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares in the company, valued at approximately $3,923,514.40. This represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Nektar Therapeutics Stock Performance

NASDAQ NKTR opened at $60.98 on Friday. The business’s fifty day moving average is $73.08 and its 200 day moving average is $62.15. Nektar Therapeutics has a fifty-two week low of $8.27 and a fifty-two week high of $109.00. The company has a market capitalization of $2.06 billion, a PE ratio of -7.24 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. On average, sell-side analysts forecast that Nektar Therapeutics will post -9.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NKTR shares. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. B. Riley Financial reiterated a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. Oppenheimer reissued an “outperform” rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a research note on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Finally, Piper Sandler lifted their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.62.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NKTR. BNP Paribas Financial Markets grew its holdings in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 210 shares in the last quarter. KBC Group NV bought a new stake in shares of Nektar Therapeutics during the first quarter valued at approximately $52,000. State of Wyoming purchased a new position in shares of Nektar Therapeutics in the first quarter worth $67,000. Compass Wealth Management LLC bought a new position in shares of Nektar Therapeutics during the third quarter worth $88,000. Finally, Quarry LP purchased a new position in Nektar Therapeutics during the fourth quarter valued at $85,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.